The "up-to-the-minute Market Data" thread

For anybody that is keeping an eye of the FDIC banks failure up to day this is list and a link to the most up today information

The list is too long to be posted.

So far this year 17 banks had failed, I believe that already somebody posted the latest in GA.

www.fdic.gov...

[edit on 7-3-2009 by marg6043]

Menino: City may lay off 700 workers
www.boston.com...


[edit on 3/7/2009 by Hx3_1963]

Originally posted by Hx3_1963
Boston Mayor to possibly layoff 700 workers...(link to follow if available)

Sat 3-7-2009
Parjaro Valley School District -200
Galveston Public Schools -163
Des Moines Schools -54
City Of San Bernardino -55
Roswell Park Cancer Institute -27
M and T Bank Corp -521
Sprint In Kansas City -2,000
Colorado State University Denver -2
Lane Press -29 Omya Inc. -12
Trump Baja Project Goes Under
Indiana Unemployment 9.2%
Essar Steel Algoma Cuts Again -80
GM Powertrain -200
Duncan Aviation San Francisco Chronicle -150
Akin Gump Law Firm -104
American Showa -37

Here some others listed so far today -

To all our loyal thread followers, I have heard many people say how they follow this thread, but don't quite understand the markets as much as they would like to.

For those folk I offer This Link which has charts, comparisons and some analysis that is usually easy to understand.

also, for terms you may not understand, investopedia is a great tool, the dictionary tab is at the top

I wonder if anyone at the Whitehouse had Fox News on today?

If so...probley not fer long...real gloom & doom all day long...

Great links Hatty,gave you another star!
Always looking to learn more and you provide some excellent info.

As to the "bread lines": many were hard-hit during the writer's strike of last year and never recovered financially,I have friends in the entertainment industry who live in LA.
Not celebs,just hard-working people who were well- employed but could not afford to "wait it out."
Many are broke now.Some live in their cars on the beach near LA,an entire "community" has sprung up.

Some of the production companies donate the "leftovers" from the site-caterings,often very excessive and my friends there volunteer to pick them up and make palatable "meals" from them to serve at the foodline on Wilshire Blvd.

I have helped to serve:moms with kids,entire familes,homeless kids,elderly...all walks of life.All very grateful and humble.
Broke my heart,I cried for hours after.

I'd suggest that some of these ego-maniacs/pirates "in charge" spend 3 hours of their time spooning out soup and see how well their sorry a**es sleep.

Are y'all thinking that Mon/next week could indeed be an epic week?
I believe I do.

ECB’s Stark Says Rate Cuts Won’t End Crisis, May Backfire
www.bloomberg.com...

March 7 (Bloomberg) -- European Central Bank Executive Board member Juergen Stark said cutting interest rates won’t remedy the financial crisis and pushing them too low may backfire.

:snip:

“The lower rates are, the less incentive banks have to clean up their balance sheets and carefully monitor their credit risks,” Stark said. Erkki Liikanen, who heads the Bank of Finland, told broadcaster YLE today that while the ECB has room to cut rates more “the impact is weakened” the closer they drop toward zero.

...more encouraging news...


GM, Opel Hire Law Firms to Advise on Reorganization, Insolvency Options
www.bloomberg.com...

After Bailouts, Stimulus Packages, Is It Time for a Federal Budget Diet?
With the federal deficit widening from economic relief efforts, could no budget be better than a bigger budget?
www.foxnews.com...

Now you tell me how bad it's gettin' out there...

Jail Inmate Escapes for Cigarettes, Tries to Sneak Back In
www.foxnews.com...

Sign of the Times: School Gets 700 Applications for Janitorial Job
www.foxnews.com...


[edit on 3/7/2009 by Hx3_1963]

I'd say it is getting pretty bad, when people are breaking back into jail, that is classic.

Guess you can't beat the bed and 3 meals a day.

Auto Dealers Plead for U.S. Help as Hundreds May Fail in 2009
www.bloomberg.com...

March 7 (Bloomberg) -- The National Automobile Dealers Association appealed to President Barack Obama’s car industry task force for help in cutting financing costs for retailers.

The 90-minute discussion with U.S. Treasury auto advisers Steven Rattner and Ronald Bloom didn’t elicit any commitment for aid, NADA Chairman John McEleney said yesterday in an interview. The 19,700-member association expects 1,200 U.S. dealers to close this year, he said.

“We certainly did not receive a commitment and nor did we expect to,” McEleney said. “We had a very helpful discussion. We spent about one-third of our time discussing that topic.”

GM, banks' fate to keep investors on edge
www.reuters.com...

Obama's economic saviour savaged as Keating lets rip
March 7, 2009
www.smh.com.au...

When Barack Obama announced his champion to rescue the world from economic ruin, it was the first time most Americans had ever heard the name Tim Geithner.

The initial impression was good. The stockmarket surged and the pundits swooned. "Exactly a decade ago, he was Uncle Sam's golden-boy emissary sent into the stormy centre of what was then the world's worst financial crisis [the Asian crisis]," reported The New York Post.

The paper gushed: "Just 36 at the time, he'd been raised in Asia and knew the culture so intimately he scored successes and won confidences that other diplomats couldn't match. Geithner earned widespread plaudits for pulling together quarrelling Asian finance ministers into a $US200 billion rescue of their economies."

"A fantastic choice," said a Bank of Tokyo-Mitsubishi analyst, Chris Rupkey, as the Dow rose by nearly 6 per cent. Even one of Obama's political rivals, the hard-bitten Republican senator Richard Shelby, agreed Geithner was "up to the challenge".

If anyone in the US media had thought to ask a former Australian prime minister for his assessment, they would have heard a different view. And they would not have been so surprised at Geithner's performance since.

:snip:

In other words, Geithner fundamentally misdiagnosed the problem. And his misdiagnosis led to a dreadfully wrong prescription.

[edit on 3/7/2009 by Hx3_1963]

reply to post by Hx3_1963


Yep, we are screwed.

Our treasury secretary is a guy that can't recognize that spending to much money is a problem. I guess that would explain why his solution to he problem is spend more money.

Anybody find something #ing wrong with this!

Obama: America's budgets have been 'irresponsible, unsustainable'

President Barack Obama vowed Saturday that irresponsible budgets were a thing of the past as he promised bold action to help the United States emerge from the current economic crisis stronger than before.

In his weekly radio address, Obama said his administration had inherited a 1.3-trillion-dollar budget deficit -- and a budgeting process that he called "irresponsible as it is unsustainable."

He argued that for years Washington as well as Wall Street had used accounting tricks to conceal real costs of programs.

"These kinds of irresponsible budgets -- and inexcusable practices -- are now in the past," the president said. "For the first time in many years, my administration has produced a budget that represents an honest reckoning of where we are and where we need to go."

Really? Really?! You're serious Obama? Now? Not $10 Trillion ago, but NOW?!

God help us, we are so screwed.



[edit on 7-3-2009 by projectvxn]

reply to post by Hx3_1963


How sad that the Auto dealers association is called NA-DA, as in nothing! zip zero.

reply to post by Tentickles
Star 4 U!

Good eyeballin' there... ...and yes it is sad...

@ VXN:
Wonder if he'll do what Costa Ricas planning...cutting 2/3 of the Government?


[edit on 3/7/2009 by Hx3_1963]

reply to post by Hx3_1963


Yeah, Costa Rica is where I was born...
Imagine that huh?

Originally posted by Hx3_1963
reply to post by Tentickles

 

Star 4 U!

Good eyeballin' there...

...and yes it is sad...

@ VXN:
Wonder if he'll do what Costa Ricas planning...cutting 2/3 of the Government?

[edit on 3/7/2009 by Hx3_1963]

They'll never do it.

Anyone else watching CNN Money Summit? The facts they are spouting are pretty scary. Some good graphs for those who cant stand alot of reading.

reply to post by projectvxn


This dire situation is just magnifying the hypocrisy of our government. It is so extremely sad that Obama is saying such things.

reply to post by Tentickles
We got nobody at Treasury to even answer the phone...

The Fed is shooting money out the window with Helicopter Ben's Bazooka...(formerly Paulsons version e-bay'd )

The great "Masters of the Universe" Think Tank that was touted...nada...tanked...

The Prez...giving speeches 12/3.5 out one side of his face...

ect ect

BTW: Dang! Today was another big news day...after looking back...it started slow...
www.abovetopsecret.com...

[edit on 3/7/2009 by Hx3_1963]

reply to post by projectvxn


The problem is that the amount of money needed in the proposal of Obama will have to either been printed or borrowed.

Still thanks to the financial crisis the US is going to have a very hard time when it comes to finding countries that will buy into Americas debt when their own countries are experiencing their financial crisis.

Obama has put a price ticket to the biggest budget in the history of this nation, but who is going to finance it.

That is the question, he can make all the promises he wants but the money is not there yet to be used it, is nothing more right now than promises of money.



[edit on 7-3-2009 by marg6043]

A few graphs to look at...1929 vs 2008...(click for full view)



Looks like we're before/about 1931 right now?
If we go by the above...we could go to 775-800 before the next leg down?
We took ~3 Months to do what they took over a year to do???




1974 vs 2008


www.online-stock-trading-guide.com...
tradermike.net...
mast-economy.blogspot.com...

[edit on 3/7/2009 by Hx3_1963]

Stimulus raises state sovereignty issues
www.cnn.com...

WASHINGTON (CNN) -- Republican lawmakers from more than 20 states across the country are willing to take federal funding, but only on their terms.

Some state lawmakers are pushing for sovereignty from the federal government.

From Montana to South Carolina, lawmakers in mostly red states have pushed ahead with measures calling for state sovereignty under the Tenth Amendment, saying the federal government has overstepped its bounds with the stimulus package. The states are calling for the right to ignore laws they deem unconstitutional.

Oklahoma state Sen. Randy Brogdon, a Republican and the first to introduce this type of legislation last year, originally pursued it because he thought then-President Bush and Congress exceeded their authority with the Real ID Act, which required states to include certain information on driver's licenses.

He called the stimulus package "immoral and unconscionable" and said it was "the final straw that broke the financial back of America."

World's biggest banks to meet in London
Published: March 8, 2009
www.iht.com...

TOKYO: Chief executives of leading Japanese, European and U.S. banks will meet in London to discuss the future of the financial system, the Nikkei newspaper reported, as the global financial crisis prompts a barrage of new regulatory proposals for the sector.

The Japanese business daily said the British government would host the meeting on March 24, after a Group of 20 (G20) finance ministers meeting in London next weekend and ahead of a summit of G20 leaders there on April 2.

The G20 summit of big developed and developing countries in London aims to put the world economy on a path to recovery with banks facing strong calls for new regulations ranging from increased supervision of the financial sector to limits on executive bonuses.

Invitations to the meeting of bankers had been sent to leading institutions including JPMorgan Chase and HSBC, the newspaper said, without naming any sources.

GE (!) is in trouble
Published: March 7, 2009
www.iht.com...

So this is what it has come to. General Electric appears to be in trouble.

General Electric! It boggles the mind. Long viewed as one of the world's greatest companies -prodigious builder of jet engines and light bulbs, globalized to a fare-thee-well, with management depth other companies can only dream about, and an unassailable AAA rating - GE spent the week fending off rumors that it was the second coming of Citigroup.

GE has billions of dollars of unacknowledged losses in GE Capital, its huge finance unit, the bears claimed. GE is about to lose its prized AAA. Its debt is immense. GE Capital is going to need to shore up its capital base. And on, and on.

"GE Capital," wrote Nicholas P. Heymann and Matthew Kelley, two bearish analysts at Sterne Agee, "is now confronting the prospect that a downward trend in fundamental performance, fueled by weakening end markets and magnified by several liquidity constraints, could potentially lead to an extended period of steadily lower earnings, depleted loss provisions, lower credit ratings, rising borrowing costs" ... well, you get the picture.

[edit on 3/7/2009 by Hx3_1963]